MONTRÉAL, Feb. 3, 2012 /CNW/ - A Hearing Panel of the Investment
Industry Regulatory Organization of Canada (IIROC) has imposed the
following penalties on Jean-Luc Beaudoin:
An aggregate fine of $10,000; and
Should Mr. Beaudoin wish to hold director/officer/supervisory
responsibilities in the future: repeat and pass the Partners, Directors
and Senior Officers Course (PDO).
The Hearing Panel also ordered Mr. Beaudoin to pay costs in the amount
The Decision and Reasons on penalties dated December 20, 2011 are
available at the following address:
In an earlier decision, announced June 8, 2011, a Hearing Panel found
that Jean-Luc Beaudoin failed in his duty to protect the public
relative to the trades in the account of a client, given that there
were signs of market manipulation, and failed in his duty to properly
track and keep a record of his daily supervision reviews and inquiries
and their follow-up.
The decision and reasons respecting liability, handed down by the
Hearing Panel on May 18, 2011, are available at the following address:
Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.
IIROC began investigating Mr. Beaudoin's conduct in February 2008. The
violations occurred while he was a branch manager at the Brossard
branch of Desjardins Securities Inc., an IIROC-regulated firm. Mr.
Beaudoin is still employed with Desjardins Securities Inc. in the
capacity of Registered Representative.
* * *
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry
standards, protects investors and strengthens market integrity while
maintaining efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian equity marketplaces.
IIROC investigates possible misconduct by its member firms and/or
individual registrants. It can bring disciplinary proceedings which may
result in penalties including fines, suspensions, permanent bars,
expulsion from membership, or termination of rights and privileges for
individuals and firms.
All information about disciplinary proceedings relating to current and
former member firms is available in the Enforcement section of the IIROC website. Background information regarding the
qualifications and disciplinary history, if any, of advisors currently
employed by IIROC-regulated firms is available free of charge through
the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or
marketplace-related complaints is available by calling 1.877.442.4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
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Vice President, Québec
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Director, Public Affairs